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All assets listed below have been held for more than one year Requirement Which assets might be classified as Sec. 1231, Sec. 1245, or Sec.
All assets listed below have been held for more than one year Requirement Which assets might be classified as Sec. 1231, Sec. 1245, or Sec. 1250 property? An asset may be classified as more than one type of property Sec. 1231 Asset Yes a. Land on which a factory is located b. Equipment used in the factory c. Raw materials inventory d. Patent held by its creator e. Land held primally for sale 1. Factory building acquired in 1986 (the straight-line ACRS recovery method is used) No Sec. 1245 Asset a. Land on which a factory is located b. Equipment used in the factory c. Raw materials inventory d. Patent held by its creator o, Land held primaily for sale 1. Factory building acquired in 1986 (the straight-line ACRS recovery method is used) CAR 19 Acco Asset a. Land on which a factory is located b. Equipment used in the factory c. Raw materials inventory d. Patent held by its creator o. Land held primaily for sale 1. Factory building acquired in 1986 (the straight-line ACRS recovery method is used) Sec. 1250 Asset a. Land on which a factory is located b. Equipment used in the factory c. Raw materials inventory d. Patent held by its creator e. Land held primaily for sale f. Factory building acquired in 1986 (the straight-line ACRS recovery method is used)
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